Overstock.com 2014 Annual Report Download - page 36

Table of Contents
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Cash and cash equivalents
$ 181,641
$ 148,665
$ 93,547
$ 96,985
$ 124,021
Restricted cash
580
1,580
1,905
2,036
2,542
Working capital
15,260
25,425
7,497
(14,129)
14,746
Total assets
376,865
315,636
181,985
179,559
217,959
Total indebtedness
4,843
3,155
1,848
18,619
52,845
Redeemable common stock
—
—
—
—
570
Stockholders' equity
129,220
118,760
30,962
13,237
30,658
(1) Our consolidated financial statements for the year ended December 31, 2013 include an immaterial revision to current and long-term deferred tax assets and our
provision (benefit) for income taxes in the fourth quarter of 2013. The effect of the revision was to reduce current and long-term deferred tax assets by $284,000 and $3.8
million, respectively, with an offsetting increase of $4.1 million to our provision (benefit) for income taxes in 2013. We evaluated these changes in accordance with Staff
Accounting Bulletin No. 99, Materiality ("SAB 99"), and Staff Accounting Bulletin No. 108, Considering the Effects of Prior Year Misstatements when Quantifying
Misstatements in Current Year Financial Statements ("SAB 108"), and determined that the revisions are not material to the prior period.
(2) During the fourth quarter of 2006, we commenced implementation of a facilities consolidation and restructuring program designed to reduce the overall expense
structure in an effort to improve future operating performance (see Item 15 of Part IV, "Financial Statements"-Note 3. Restructuring Expense).
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The following discussion and analysis contains forward-looking statement relating to future events or our future financial or operating performance
that involve risks and uncertainties, as set forth above under "Special Cautionary Note Regarding Forward-Looking Statements." Our actual results could
differ materially from those anticipated in these forward-looking statements as a result of certain factors described in this Annual Report on Form 10-K,
including those set forth above under "Special Cautionary Note Regarding Forward-Looking Statements" or in Item 1A under the heading "Risk Factors" or
elsewhere in this Annual Report on Form 10-K.
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We are an online retailer offering price-competitive brand name, non-brand name and closeout merchandise, including furniture, home decor,
bedding and bath, housewares, jewelry and watches, apparel and designer accessories, electronics and computers, and sporting goods, among other products.
We also sell hundreds of thousands of best seller and current run books, magazines, CDs, DVDs and video games ("BMMG"). We sell these products through
our Internet websites located at www.overstock.com, www.o.co and www.o.biz (referred to collectively as the "Website"). Although our three websites are
located at different domain addresses, the technology and equipment and processes supporting the Website and the process of order fulfillment described
herein are the same for all three websites.
Our company, based in Salt Lake City, Utah, was founded in 1997. We launched our initial website in March 1999. Our Website offers our customers
an opportunity to shop for bargains conveniently, while offering our suppliers an alternative inventory liquidation or sales channel. We continually add new,
and sometimes limited, inventory to our Website in order to create an atmosphere that encourages customers to visit frequently and purchase products before
our inventory sells out. We sell products primarily in the United States.
As used herein, "Overstock," "Overstock.com," "O.co," "O.com," "we," "our" and similar terms include Overstock.com, Inc. and its subsidiaries, unless
the context indicates otherwise.
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